Speaking to reporters here, Information and Broadcasting Minister Manish Tewari said that as per DAVP's print media advertisement policy, a Rate Structure Committee (RSC) is to be constituted every three years for consideration of revision of rates.
He said the 5th RSC was constituted in November 2004 and on its recommendations, the rate card for Print Media Advertisement was issued in 2005 and these rates were valid upto 31st December, 2008.
The 6th RSC was constituted in 2008 but it could not submit its recommendations in time and a proposal for grant of interim hike was considered by the I&B and Finance Ministries, Tewari said.
He added that based on the recommendations of the 6th RSC, the DAVP rate card for print media was finalised with effect from October 15, 2010 to October 14, 2013.
The I&B Minister said the 7th RSC was constituted in May, 2013 and is likely to submit its recommendations very soon.
He, however, added the validity of last rate card was effective only upto October 14, 2013 and the Ministry had received representations for grant of interim relief to meet the pending revision of rate card.
A proposal for grant of an interim hike was considered by the I&B Ministry in consultation with Finance ministry and concurrence of the Election Commission, Tewari told reporters.
"It has now been decided to grant an interim hike of 19 percent in the existing rates of DAVP for its Print Media Advertisement," he added.
This hike will be effective from October 15 till a revised Print Media Advertisement Rate Structure is finalised, he said.
The DAVP releases ads worth nearly Rs 410 crore annually but the effect of this interim rate hike is expected to be felt on advertisements worth another Rs 2,000 crore as many state and PSUs also follow DAVP rates, officials said.